Business News

Malaysia court rules in favor of Wynn Macau in $4.2 million case: lawyer

KUALA LUMPUR (Reuters) - A Malaysian judge on Friday ruled in favor of Wynn Macau (1128.HK) in a case against a fund manager who owed the casino millions of dollars, the company’s lawyer said, the first time a casino has been allowed to recover dues in the country. Wagering or gaming contracts are not recognized in Malaysia, which means casinos do not have legal recourse for the gambling dues owed to them by its cl...

19 Jan 8:09 AM 0 Read More...

LJM Partners sues unnamed ‘manipulators’ it blames for volatility losses

NEW YORK (Reuters) – LJM Partners Ltd on Friday filed a lawsuit against unnamed parties it holds responsible for hundreds of millions of dollars it lost after last year’s jump in stock market volatility that effectively put the fund manager out of business. LJM invested in complex derivatives that lost most of their value over two days in early February 2018 following the biggest-ever single-day jump in the VI...

19 Jan 5:54 AM 0 Read More...

LJM Partners sues unnamed 'manipulators' it blames for volatility losses

NEW YORK (Reuters) - LJM Partners Ltd on Friday filed a lawsuit against unnamed parties it holds responsible for hundreds of millions of dollars it lost after last year’s jump in stock market volatility that effectively put the fund manager out of business. LJM invested in complex derivatives that lost most of their value over two days in early February 2018 following the biggest-ever single-day jump in the VIX vo...

19 Jan 3:04 AM 0 Read More...

Wall Street extends rally on U.S.-China trade optimism

NEW YORK (Reuters) - U.S. stocks rallied on Friday, helping Wall Street’s major indexes advance for the fourth consecutive week, as increased hopes the United States and China would resolve their trade dispute lifted shares across sectors. The market was boosted after a Bloomberg report said China sought to raise its annual goods imports from the United States by a combined value of more than $1 trillion in order t...

18 Jan 9:59 PM 0 Read More...

Exclusive: U.S. demands regular review of China trade reform

BEIJING/WASHINGTON (Reuters) - The United States is pushing for regular reviews of China’s progress on pledged trade reforms as a condition for a trade deal - and could again resort to tariffs if it deems Beijing has violated the agreement, according to sources briefed on negotiations to end the trade war between the two nations. A continuing threat of tariffs hanging over commerce between the world’s two largest...

18 Jan 9:59 PM 0 Read More...

Avianca Brasil's legal fight with plane leasing firms escalates

SAO PAULO (Reuters) - Avianca Brasil’s battle with its aircraft leasing firms intensified on Friday after Brazil’s aviation regulator said it would no longer ground 10 of the struggling carrier’s planes and another lessor renewed its effort to repossess 10 others. Aircastle Ltd (AYR.N) and General Electric Co’s (GE.N) GE Capital Aviation Services (GECAS) unit, among other lessors, have been trying to reposses...

18 Jan 9:59 PM 0 Read More...

U.S. regulators discuss fining Facebook for privacy violations: report

(Reuters) - U.S. regulators have met to discuss imposing a fine against Facebook Inc (FB.O) for violating a legally binding agreement with the government to protect the privacy of personal data, the Washington Post reported on Friday, citing three people familiar with the discussions. The Federal Trade Commission has been investigating Facebook since last year. It has not finalized its findings in the probe or the to...

18 Jan 9:59 PM 0 Read More...

Stocks, dollar up on trade hopes; Wall Street set for fourth week gains

NEW YORK (Reuters) - Major stock indexes rose worldwide on Friday and the dollar was on track for its first positive week this year, boosted by optimism that the trade conflict between the United States and China may come to an end. Adding to strength in equities and supporting U.S. Treasury yields was data that showed U.S. manufacturing output increased the most in 10 months in December. Wall Street was set for a f...

18 Jan 4:54 PM 0 Read More...

Industrials power Wall Street higher on trade optimism

(Reuters) - Gains in technology and industrial stocks put Wall Street on track for their fourth week of gains on Friday, amid growing optimism that the United States and China would resolve their bitter trade dispute. U.S. stocks rose to session highs after a Bloomberg report said China has offered to go on a six-year buying spree to ramp up U.S. imports in order to reconfigure the relation between the two countries....

18 Jan 4:54 PM 0 Read More...

CVS, Walmart reach new agreement for pharmacy network

(Reuters) - CVS Health Corp (CVS.N) and Walmart Inc (WMT.N) reached a multi-year agreement, under which Walmart will continue participating in CVS’s pharmacy benefit management commercial and Medicaid retail pharmacy networks, the companies said on Friday. Financial terms of the new contract were not disclosed. On Tuesday, CVS said Walmart was leaving its network for commercial and Medicaid prescription drug plans...

18 Jan 11:50 AM 0 Read More...